Business & Finance News
Oil prices recovered some ground on Wednesday, boosted by a wider market pickup on positive news from China’s services sector, having touched their lowest in close to a month during the previous session on fears over the weakening global economy.
Stocks followed a firmer Chinese lead on Wednesday after a report showed growth in the country’s service sector accelerating despite broader economic headwinds, while the pound halted its decline on hopes a no-deal Brexit may yet be averted.
Oil prices recovered some ground on Wednesday after touching their lowest in close to a month during the previous session on concerns that a weakening global economy could depress demand.
Asian stocks bounced on Wednesday, led by Chinese markets after a report showed growth in the country’s service sector accelerating despite broader economic headwinds, while the pound halted its decline on hopes a no-deal Brexit may yet be averted.
Japanese automakers posted sharper sales falls in South Korea in August, industry data showed on Wednesday, hit by a consumer boycott of Japanese vehicles amid a worsening diplomatic row between the countries.
The head of the International Air Transport Association (IATA) warned on Tuesday that any discrepancy among global regulators over reapproving Boeing Co’s 737 MAX for commercial flight could set a worrying precedent for future aircraft programs.
This summer, U.S. airlines have enjoyed booming flight demand, immune to a Swedish-born “flight shaming” movement that has hit air travel in Europe, where environmentally conscious travelers are choosing trains over planes.
Walmart Inc, the nation’s largest retailer, said on Tuesday it would stop selling ammunition for handguns and some assault-style rifles in all its stores across the United States, and called for action on gun safety after a string of mass shootings, including at Walmart stores in Texas and Mississippi.
Asian stocks dipped early Wednesday after poor U.S. economic data stoked global recession fears and further soured investor sentiment already hurt by heightened trade war concerns.
The Federal Reserve should use its meeting in two weeks to aggressively cut interest rates, one U.S. central banker said on Tuesday.
The European Central Bank will cut its deposit rate next week and announce a restart of its asset purchase program, but over 80% of economists polled by Reuters were skeptical about the bank’s ability to influence inflation over the medium term.
U.S. grocer Kroger Co has begun asking customers to stop openly carrying firearms in stores, a change in policy, a spokeswoman said on Tuesday.
OxyContin maker Purdue Pharma LP is preparing to seek bankruptcy protection before the end of the month if it does not reach a settlement with U.S. communities over widespread opioid litigation, three people familiar with the matter said, after some states balked at the company’s $10 billion to $12 billion offer in August to end their lawsuits as part of a negotiated Chapter 11 case.
Facebook Inc is opening up its face recognition technology to all users with an option to opt out, the social media company said on Tuesday, as it discontinued a related feature called “Tag Suggestions.”
U.S. meat processor Tyson Foods Inc on Tuesday lowered its 2019 adjusted earnings forecast citing short-term challenges due to commodity market volatility, slower-than-expected operational improvements in the chicken segment, and the impact of a recent fire at its slaughterhouse in Holcomb.
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